• East Asian Economic Review
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• v.26 no.1
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• pp.49-91
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• 2022

Recent years have witnessed renewed interest in Africa and public diplomacy has emerged as the vital tool being used to cultivate these relations. China has been leading in pursuing stronger economic partnership with Africa while middle powers such as Korea are also intensifying engagement with the continent. While previous studies have analyzed the implications of China's activities in Africa on advanced powers, none has examined them from the paradigm of middle powers. This study fills this gap by assessing China's activities in Africa, their economic engagement and implications for Korea's interest in Africa. The analysis is qualitative based on secondary data from various sources and literature. The study shows that China's public diplomacy strategy involves a high degree of innovation and has evolved to encompass new tools and audiences. China has institutionalized a cooperative model that permeates many aspects of governance institutions in Africa, enabling it to strengthen their relations. This could also be helping China to adjust faster leadership transitions in Africa. Whereas the US is still the most influential country in Africa, China is influential in economic policies and has outstripped the US in infrastructure diplomacy. This could be because African policy makers align more with China's economic model than the US' mainstream economics. Chinese aid to Africa has been diversified to social sectors that are more responsive to the needs of Africa. Trade and investment relations between China and Africa have deepened, but so does trade imbalance since 2010. China mainly imports natural resources and raw materials from Africa. But this product portfolio is not different from Korea and the US. China's energetic insertion in Africa using various strategies has significant implications for countries with ambitions in Africa. Korea can achieve its ambitions in Africa by focusing resources in areas it can leverage its core strengths-such as education and vocational training, environmental policy and development cooperation.

• Journal of Korea Trade
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• v.27 no.5
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• pp.167-198
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• 2023

Purpose - This paper aims to compare and analyze the co-movements and information spillover effects between the international commodity futures markets and the South Korean stock markets during the COVID-19 and the 2008 financial crises. Design/methodology - The DCC-GARCH model is used in the co-movements analysis. In contrast, the BEKK-GARCH model is used to evaluate information spillover effects. The statistical data used is from January 1, 2005, to December 31, 2022. It comprises the Korea Composite Stock Price Index data and daily international commodity futures prices of natural gas, West Texas Intermediate crude oil, gold, silver, copper, nickel, soybean, and wheat. Findings - The results of the co-movement analysis were as follows: First, it was shown that the co-movements between the international commodity futures markets and the South Korean stock markets were temporarily strengthened when the COVID-19 and 2008 financial crises occurred. Second, the South Korean stock markets were shown to have high correlations with the copper, nickel, and crude oil futures markets. The results of the information spillover effects analysis are as follows: First, before the 2008 financial crisis, four commodity futures markets (natural gas, gold, copper, and wheat) were shown to be in two-way leading relationships with the South Korean stock markets. In contrast, seven commodity futures markets, except for the natural gas futures market, were shown to be in two-way leading relationships with the South Korean stock markets after the financial crisis. Second, before the COVID-19 crisis, most international commodity futures markets, excluding natural gas and crude oil future markets, were shown to have led the South Korean stock markets in one direction. Third, it was revealed that after the COVID-19 crisis, the connections between the South Korean stock markets and the international commodity futures markets, except for natural gas, crude oil, and gold, were completely severed. Originality/value - Useful information for portfolio strategy establishment can be provided to investors through the results of this study. In addition, it is judged that financial policy authorities can utilize the results as data for efficient regulation of the financial market and policy establishment.

• Management & Information Systems Review
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• v.32 no.1
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• pp.63-85
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• 2013

This study tries to investigate the fundamental implications inherent in inventory asset information(specifically, unexpected inventory investment) by analyzing how the relationship between unexpected inventory investment and future operating performance. And we study how is the response of the stock market participants to the fundamental implications inherent in inventory asset information. Prior papers often assume the efficient market and they view the significant relation between stock prices and financial indicators as evidence of the contribution of such indicators to future earnings. Leading indicators are attracting the market's attention for equity valuation. We study whether one leading indicator (unexpected Inventories) forecasts future earnings, and whether market participants fully reflect the predictive ability when they sets share prices(Mishkin test, 1983). Our empirical results of the study are summarized as follows. Current unexpected inventory investment is negatively associated with future operating performance. Also, our evidence is that the stock market participants overprice the contribution of unexpected inventory investment when predicting future earnings. Furthermore, a hedge strategy that uses the overpricing gives significant future abnormal returns. The overall results help the users of financial reports, researchers of accounting, and the accounting principle setting body.

• Journal of Nutrition and Health
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• v.45 no.6
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• pp.541-551
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• 2012

In our previous work, we reported consumers' perceptions of body shape and weight control. In an ongoing effort, we analyzed the purchasing behavior, intake patterns, future purchasing decisions, and degree of satisfaction in individuals consuming dietary formula for weight control (DF) or heath/functional foods (HFFs) by using the same survey questions. Portfolio analysis for marketing strategy was also investigated. Subjects were divided into two groups according to consumption of DF or HFF during the previous year : DF group (n = 89) and HFF group (n = 110). Average intake frequency was $1.7{\pm}0.7$ per day for HFFs and $1.5{\pm}0.9$ per day for the DF, and the most prevalent form was pill (58.2%) for HFFs and bar (42.7%) for DF. Duration of intake was $3.1{\pm}2.3$ months for HFFs versus $3.9{\pm}3.5$ months for DF. The average degree of satisfaction was $3.6{\pm}0.6$ on a 5-point scale, meaning 'relatively satisfied'. For the weight control method to be used in the future, 44.5% of the HFF group selected 'HFFs' while 47.2% of the DF group selected 'DF', showing a tendency to use the current product type in the future. The average planned period for the intake was $3.8{\pm}3.7$ months for HFFs and $3.0{\pm}2.4$ months for DF (p < 0.05). The HFF group emphasized efficacy, functional ingredients of the products, reliable products, and higher satisfaction, whereas the DF group emphasized the added materials in addition to weight control effects.

• (The)Korea Educational Review
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• v.24 no.1
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• pp.227-254
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• 2018

This study examines differences in perception between applicants and admissions committee members regarding evaluation criteria for admission to career and technical high schools in Seoul. This investigation, based on "The survey on policy for career and technical high school admissions," seeks to explore and consider the various criteria for selecting and evaluating students. The target populations of the survey were the educators in charge of admission and freshmen in Seoul career and technical high schools. We report three major findings, with the first pertaining to the existing criteria and policies for admission to career and technical high schools. While educators agreed with the intent and reasoning behind the school's competitive spots, they were overall dissatisfied with the selection method and the lack of a requirement for academic transcripts. Matriculated students, in comparison, expressed greater satisfaction with the existing criteria for admission. Secondly, when assessing the importance of various evaluation components in an application, educators viewed the interview and attendance record as the most valuable components of the application, followed by future plans, personal statement, volunteer work, and portfolio, in order of decreasing importance. Students ranked attendance record, interview, personal statement, portfolio, future plans, and volunteer work as most to least important components of their application. Thus, students regarded the personal statement and portfolios as being of higher priority than did the educators. The last major finding pertained to students' rationale for applying and educators' selection criteria. At the time of application, students focused on aptitude and job prospects after graduation, while educators valued personality and competence. In summary, the applicants' viewpoints and actions aligned much more closely with the mission of the Seoul Metropolitan Office of Education than did those of the educators in charge of admission. Thus, in order to establish a consensus between the policy and mission of career and technical high schools, each career and technical high school should clarify the exact criteria for their ideal candidate. There is also a need to bridge the gap in perception between the applicants and educators regarding selection strategy, to establish a harmonized evaluation criteria. These goals are necessary to attract and recruit talented, bright individuals who will meet the demands of today's society.

• Management & Information Systems Review
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• v.35 no.4
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• pp.1-19
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• 2016

The researchers in strategic management have focused on identifying the effects of CEO's demographic characteristics and experience on the strategic choices and performance of firms. On the other hand, they have failed to identifying the effects of CEO's psychological characteristics on them because of the difficulties over data collection and measurement for variables. To overcome this limitation of prior researches, this study is designed to achieve two specific objectives. The first is to examine the effect of CEO narcissism on diversification strategy and performance of listed corporations on Korean securities market in an economic downturn. The other is to examine the moderating effects of various corporate governance systems that are related to board and/or ownership structures on those relationships. The empirical setting for this study was drawn from a multi-year(2011~2014) sample of large listed corporations in Korean securities market. To achieve the objectives, the hypotheses of research are analyzed by implementing multiple regression analyses in two separate models. The results of these analyses show that CEO narcissism is positively related to the diversification of listed large corporations in Korean securities market. Regrading the moderating effects, the stake of institutional investors weakens the positive relationship between CEO narcissism and firm's diversification. The findings of this research imply that CEO narcissism can intensify the tendency of Korean corporations to adopt high-risk and high return strategy in an economic downturn. Thus, firms might be able to use CEO narcissism to drastically restructure the business portfolio in an economic downturn. However, Korean corporations should be very cautions to maximize the positive effect of CEO narcissism. They might be use the institutional investors as their corporate governance system to monitor and control the opportunism of CEO in the decision for diversification in an economic downturn.

• Journal of Digital Convergence
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• v.10 no.8
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• pp.119-133
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• 2012

Recent rise of social media channel is changing social and economic paradigm and is being used as an effective communication in marketing. The following research analyzes the most employed social marketing tools such as portal advertisement, blogs, and SNS channels to effectively execute social media marketing from performance indicator and ICSI perspective, analyzes each channel's characteristics and results based on Korea distribution companies' case studies and suggests a framework to effectively use each channel. Portal site advertisements are the most effective channel to draw customers with new information and are thus linked to profit by corporations with excessive budget and workforce. Blogs target a specific range of customers providing quality information and knowledge thus improving a corporation's and its product's trustworthiness, spread the word by allowing customers to scrap the information, form social groups and synthesize ideas, events, new contents and social involvement with loyal customers. SNS channels allow customers to get involved in real time information and events, grow through network by the power of customers, react immediately to customers' needs, and execute real-time market and customer reports. Though national corporations currently rely heavily on portal site advertisements, insightful marketing professionals are showing financial results with blog and SNS. In the future, based on a precise understanding of each channel's benefits and expected results, and with a focus on flexibility, timeliness and integrated use of each channel, a portfolio of dynamic marketing as a maximizing strategy could be synthesized.

• Journal of Engineering Education Research
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• v.4 no.1
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• pp.3-19
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• 2001

According to the acceleration of informationalization and technological renovation in new coming $21^c$, the material production elements like labor and capital as well as others which have been the resources of a country's competitive power are changing into formless knowledge-based assets like knowledge and technology. In order to meet these demands of this time, companies in developed countries are concentrating on competition and cooperation to obtain higher technology as a strategy towards becoming first-class countries in the world. Thus, the development program of human resources should focus on providing creative technical application ability. Especially, universities should develop knowledge, technology, creative problem-solving ability and realism acquired by various fields in industry where engineering is used and make it possible to perform practical tasks. As a plan for enforcement and management of this program, a certification program which evaluates the ability and accomplishments of the study of graduate students in order to manage the quality of education should be applied as soon as possible at the institute which trains engineers. In this study, among the accomplishment assessment which have been suggested as an alternative assessment method, portfolio assessment is introduced into the educational situation of engineering technological human resources to find a method of application.

• Korean Journal of Construction Engineering and Management
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• v.18 no.3
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• pp.95-104
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• 2017

Recently, patent information related to building information modeling (BIM) has been increasing owing to BIM adoption within the construction sector. However, only a few research studies have focused on identifying trends in the domestic and foreign BIM technology based on comprehensive and objective data. Therefore, this study aims to analyze technical competitiveness in the global BIM market using patent information. The patent information is compiled from WIPSON and consists of 73 South Korea, 59 USA, 206 China, and 31 Japan applications. Based on patent information, this study objectively observes domestic and foreign technological BIM trends. As a result of the technology entry analysis by the year, starting from physics (G section) to electricity (H section), the performing operations (B section), and the fixed structure (E section) has been expanded gradually. According to the portfolio analysis, the BIM patent is currently in its early stage of development. Through this research, utilizing patents as a basis for future development will be expected to consult with the differentiation of strategy and setting of direction.

• Journal of Energy Engineering
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• v.25 no.2
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• pp.94-100
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• 2016

ESS(Energy Storage System) is an important source that keeps power supply stable and utilizes electricity efficiently. For example, ESS contributes to resolve power supply imbalance, stabilize new renewable energy output and regulate frequency. ESS is predicted to be expanded to 55.9GWh of installed capacity by 2023, which is 30 times more than that of 2014. To raise competitiveness of domestic ESS industry in this increasing world market, we have disseminated load-shift ESS for continuous power supply imbalance with FR ESS, and also necessity to secure domestic track record is required. However in case of FR ESS, utility of installing thermal power plant is generally generated within 5% range of rated capacity, so that scalability of domestic market is low without dramatic increase of thermal power plant. Necessity of load-shift ESS dissemination is also decreasing effected by surplus backup power securement policy, raising demand for new dissemination model. New dissemination model is promising for $CO_2$ reduction effect in spite of intermittent output. By stabilizing new renewable energy output in connection with new renewable energy, and regulating system input timing of new renewable energy generation rate, it is prospected model for 'post-2020' regime and energy industry. This research presents a policy alternatives of REC multiplier calculation method to induce investment after outlining PV-connected ESS charge/discharge mode to reduce GHG emission, This alternative is projected to utilize GHG emission reduction methodology for 'Post-2020' regime, big issue of new energy policy.